The following information relates to Pharoah Kitchen Ltd.'s inventory transactions during the month of March. Units Mar. 1 Beginning inventory 8,100 Sale 5,400 3,375 1,080 3,375 5,400 4,725 7 12 16 18 27 29 Purchase Purchase Sale Purchase Sale Cost/Unit Amount $18.00 $145,800 All of the units sold were priced at $65 per unit. $19.80 $66,825 $19.80 $21,384 $25.00 $135,000
The following information relates to Pharoah Kitchen Ltd.'s inventory transactions during the month of March. Units Mar. 1 Beginning inventory 8,100 Sale 5,400 3,375 1,080 3,375 5,400 4,725 7 12 16 18 27 29 Purchase Purchase Sale Purchase Sale Cost/Unit Amount $18.00 $145,800 All of the units sold were priced at $65 per unit. $19.80 $66,825 $19.80 $21,384 $25.00 $135,000
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter7: Inventories: Cost Measurement And Flow Assumptions
Section: Chapter Questions
Problem 12RE: Carla Company uses the perpetual inventory system. The following information is available for...
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![The following information relates to Pharoah Kitchen Ltd.'s inventory transactions during the month of
March.
Mar. 1 Beginning inventory
7
12
16
18
27
29
Sale
Purchase
Purchase
Sale
Purchase
Sale
Units
8,100
5,400
3,375
1,080
3,375
5,400
4,725
Cost/Unit
Amount
$18.00 $145,800
All of the units sold were priced at $65 per unit.
$19.80 $66,825
$19.80 $21,384
$25.00 $135,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F5f5c8c10-32a4-4a31-a75f-ea111c5b5bce%2F8f56f302-4121-440b-8bdc-32a8328b2cb2%2Fmiat4y9_processed.jpeg&w=3840&q=75)
Transcribed Image Text:The following information relates to Pharoah Kitchen Ltd.'s inventory transactions during the month of
March.
Mar. 1 Beginning inventory
7
12
16
18
27
29
Sale
Purchase
Purchase
Sale
Purchase
Sale
Units
8,100
5,400
3,375
1,080
3,375
5,400
4,725
Cost/Unit
Amount
$18.00 $145,800
All of the units sold were priced at $65 per unit.
$19.80 $66,825
$19.80 $21,384
$25.00 $135,000
![Pharoah Kitchen Ltd. uses the perpetual inventory system.
Calculate Pharoah Kitchen's cost of goods sold, gross margin, and ending inventory for the month
of March using weighted-average. (Round calculations for cost per unit to 2 decimal places, e.g. 10.52
and final answers to O decimal places, e.g. 61,052.)
Cost of goods sold
Gross margin
Ending inventory
$
GA](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F5f5c8c10-32a4-4a31-a75f-ea111c5b5bce%2F8f56f302-4121-440b-8bdc-32a8328b2cb2%2Fedggtrc_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Pharoah Kitchen Ltd. uses the perpetual inventory system.
Calculate Pharoah Kitchen's cost of goods sold, gross margin, and ending inventory for the month
of March using weighted-average. (Round calculations for cost per unit to 2 decimal places, e.g. 10.52
and final answers to O decimal places, e.g. 61,052.)
Cost of goods sold
Gross margin
Ending inventory
$
GA
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